OTC Reporting Facility (ORF) Testing
As part of its Transparency Services improvement initiatives, beginning in December 2022, FINRA will re- platform the OTC Reporting Facility (ORF) to a new Linux-based operating system. These changes will be implemented in addition to the Trade Data Dissemination Service (TDDS) protocol changes FINRA previously announced. Except for the timestamp changes listed below, all ORF trade reporting validations, TRAQS scans, FIX messages, and ORF API reference data will remain as currently designed.
Effective Monday, December 5, 2022, ORF will begin supporting timestamps up to nanosecond granularity (HH:MM:SS.sssssssss) in accordance with amendments to FINRA’s equity trade reporting rules. Please refer to FINRA Regulatory Notice 20-41 for additional information on firms’ reporting obligations under these amendments. ORF will support timestamps of up to nanosecond granularity on all inbound and corresponding outbound (reject and acknowledgement) trade capture report messages. The ORF FIX Specifications for Trade Reporting has been updated to reflect the new nanosecond timestamp formats.
FINRA invites ORF clients and TDDS data recipients to test the new platform in the Nasdaq Test Facility (NTF), which includes the nanoseconds updates.
Testing via NTF:
From Monday, August 15, 2022, through Friday, December 2, 2022, users may test in the NTF region by using the links below.
| Function | Link | Notes |
|---|---|---|
|
TRAQS |
|
|
|
FIX |
|
Connect to NTF IP addresses |
|
API |
|
|
|
TDDS 2.1 |
|
Connect to TDDS NTF IP addresses |
Users may test free of charge in NTF for 30 calendar days. Users must notify [email protected] at the commencement of testing. Once a user informs the NASDAQ test team, the testing free period will continue uninterrupted for 30 calendar days. After the 30-day period ends, normal NTF fees will apply for connecting and testing. Questions regarding NTF fees can be directed to NASDAQ Technical Services at (212) 231-5180.
FINRA will issue separate notices with testing details of upcoming production Saturday user acceptance tests (UAT).
Please contact FINRA Product Management or call (866) 899-2107 with questions regarding this notice.